New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-12-05
MONEY AID BUSINESS.

Products still rise and stocks still decline.
Whether it be scientifically true that every
light must have its shadow. the correspondence
between booming prices for product, and de-
cning prices for stocks is sincularly close.
The average price Of sixty active stocks closed
on Saturday 81 per cent lower than at the be
ginning Of last July. But the advance III the
average price Of several hundred commodities.
from July to the close on saturday, was 9.G2
ucr cent During the latter part of the week
both stocks and products were tending up
ward but the agreement is unnatural. If
products are scarce and dear, the railroads
have less TO transport. while the cost Of material
and labor must increase. II the cost Of living
Increases. millions must diminish their pur-
c.aScs and that means loss traffic. The re-
sources and energy Of the most successful
operators are rarely FILTERED away in attempt
Ing 10 carry securities and products al the same
time Whether grain or stocks shall give way
is as usual an open question. but II IS safe
guess that one will decline if the other maicri-
ally advances. The rise in stocks late in the
week was about a quarter Of cent less. IN the
average than the decline had been 50 that the
level Of prices is - Il lower than the maxi
mum reached November -.
The boiling Of prices in the grain market last
week went on just aS if export, were not ar
rested. Wheat rose 3 If cents corn cents,
and oats . II cents; pork rose - cents per
barrel, lard 30 cents per 100 pounds. and hogs
81 cents butter, eggs and cheese were all
stronger. Cotton declined toward the close Of
the week but a shade less than it had advanced,
and oil closed 3-S cents higher In the
al hon. II al lpf I'M
Of copper = cents, Of tin IL cents. and Of
lead - cents per 100 pounds Sugar went up
because the new combination marked up re-
fined, and spectators are talking Of a similar
operation in iron and steel rails. by way Of
helping free trade schemes in Congress. The
fact that Southern iron is offered for She New
England and scaboard trade at low prices and
It's competition is felt in tower prices at Pits
burg seems to make such ,cculation ven
turcsomc Decreasing demand for coal, and
the countcrmanding Of some important orders. /
have led to a break in the price and the COM
hination decided not to attempt an advance for
December.
1t is worth noting that the decline in coal. /
iron and some manufactured products just bal !
anccS the advance in others and in minor metals |
since July |, so that the level Of prices cXclu |
sivc Of food products differs not a twentieth Of
per cent from the level July !, although
during the same time brcadstuils have advanced
10 per cent meats over 10 per cent, dairy and
garden and orchard products. which usually !
rise some at this season, have advanced over |
40 per cent and the advance in remaining
articles Of food, sugars liquors, tobacco, coffee. |
tea and spices. averages only per cent. Thus |
the general advance in articles Of food was 1915 |
per cent. II happens that this was exactly tho |
advance in prices Of the same food products |
from July !. 1881, to January |, 1882, conSc
qucnt upon the general failure Of crops. In
1891 there were raised $4,000, 900 bushels |
wheat against l5O,OOO.OOO this year
100000. 900 bushels against
1853. 100000 this year, and 100000 bales |
cotton against Bureau estimate this year OF
100000. The sharp reaction in prices carly
in 1882 showed that the advance had been as
much as was warranted. 1t is question whether
as great an advance is justified this year.
But there is to help a large expansion Of
circulation. Tho olicilI monthly statement
shows an addition Of So 100000 TO the cir
cuation since July /, which follows an cxpan-
sion Of 500, 10000 during the previous twelve |
months. The stimulus thus given to spccu-
lation Of all kinds is widely felt. But the real
estate. house building and railroad building |
operations resulting from the expansion Of last |
year have absorbed vast deal Of money this |
fall, and the West is still crying for more. At
nearly all Western centres rates arc high. col
lections slow and money close or tight. while
Western paper indorsed by banks is said by
Boston journals to be offered in that city at 7
per cent ShOrtncss Of crops alone would